Canadians Go Christmas Shopping in Australia, Find a Bargain

PERTH, AUSTRALIA--December 23, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--First Quantum Minerals Limited (TSX:FM) (FQM) (Vancouver, British Columbia) has purchased the (slightly used) Ravensthorpe Nickel Operation from BHP Billiton (NYSE:BHP) (BHPB) (Melbourne, Australia), at what appears to be a bargain price. The operation was officially opened in May 2008, but was promptly closed in February 2009 at the cost of some 1,450 jobs. At the time, BHPB cited the global economic downturn and poor nickel prices as the reason for the closure, however some analysts believe it was more to do with the 'operational problems' experienced with the beneficiation of the low-grade ore.